EU GDP drops huge. In 2012, they didn’t have a single quarter of growth.
The EU is on the road to persistent economic contraction.
The road “to” economic contraction? Given that they’ve been contracting for the past year, it sounds to me as if they are already there.
And here is a characteristic of death spirals: They don’t move at a constant, predictable speed. Instead, they spiral out of control.
Consider Europe a living, breathing example of an economic/ideological slippery slope.